Healthcare stocks have been active this week, with many candidates breaking out of sound bases. Medical devices makers, medical supplies, pharmaceuticals, and healthcare providers all showed activity this week as their stocks rose for a fourth day this week.
AABV, REGN, and PFE are recent trades as well.
AbbVie Stock Analysis: Earnings, Sales Grow
AbbVie stock surged into the buy zone the first week of December after submitting its “Skyrizi ” Crohn’s disease treatment to the European Medicines Agency for approval. RS Line rose to 83.
Shares are breaking higher again, following its takeover of Allergan.
Q4 earnings of $3.28 per share on $14.98 billion in sales is expected.
AbbVie earnings are expected to rise 12%, with analysts estimating sales increasing to 8% for the quarter.
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Regeneron Pharmaceutical (REGN) saw its IBD SmartSelect Composite Rating rise to 96 Thursday, follwing a strong performance this week. The new rating shows that Regeneron stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria.
History shows the top market performering stocks usually have a composite rating 95 or higher as they launch their major moves.
Pfizer, Inc. (PFE) said a third dose of its Covid vaccine neutralizes the omicron variant. In addition, the FDA authorized its booster for older teens on Thursday.
Pfizer stock jumped 1.3% to 52.08, while shares of partner BioNTech (BNTX) contracted 2.7% to 284.21.